Oireachtas Joint and Select Committees
Thursday, 8 December 2022
Public Accounts Committee
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 19 - Exchequer receipts from National Lottery ticket sales
9:30 am
Brian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source
That is not the question I am asking. Does Mr. Algeo not find it extraordinary that an entity would take out a loan at a 9% interest rate at a time when interest rates were at rock bottom or very low? Commercial decisions have to be taken. Mr. Algeo is in the commercial world and knows how it works with the laws of economics. One must try to get the best price. Why did the company go for a loan with a 9% interest rate?
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